Which statement is true about a company's choice of capitalization policy?
a. All assets with a useful life of more than one year must be capitalized.
b. The company's policy must meet the minimum capitalization amounts established by GAAP.
c. The company's policy is determined relative to materiality and the cost of maintaining asset records.
d. The company may elect to capitalize operating expenses which exceed the minimum threshold for asset capitalization.
c
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The issuance of common stock increases both_____________and stockholders' equity
Fill in the blank(s) with correct word
A finder of lost property can claim title to the property against the whole world¾except the true owner.
Answer the following statement true (T) or false (F)
In Herman v. Local 1011, United Steelworkers of America, the constitution of the steelworker's international union conditions eligibility for local office on the member's having attended at least eight of the local's monthly meetings within the two years preceding the election. Noting that the rule disqualifies 92 percent of the almost 3,000 members of Local 1011 of the steelworkers union, the
District Judge, at the behest of the Secretary of Labor:? A) made the rule optional for union members.? B) ?suggested reelection of the union leadership. C) ?declared the rule void. D) ?rescinded the representative authority of the union.
Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $141,000 and Bowen's is $125,000. Mace and Bowen agree to accept Kent with a 30% interest in the partnership. Kent invests $121,000 in the partnership. The amount credited to Kent's capital account is:
A. $121,000. B. $145,900. C. $116,100. D. $102,000. E. $125,000.